2014 -- S 2613 AS AMENDED

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2014

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A N   A C T

RELATING TO CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS - RHODE

ISLAND BUSINESS CORPORATION ACT

     

     Introduced By: Senators McCaffrey, Lombardi, and Felag

     Date Introduced: March 04, 2014

     Referred To: Senate Judiciary

     (Secretary of State)

It is enacted by the General Assembly as follows:

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     SECTION 1. Section 7-1.2-1308 of the General Laws in Chapter 7-1.2 entitled "Rhode

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Island Business Corporation Act" is hereby amended to read as follows:

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     7-1.2-1308. Articles of dissolution. -- The corporation shall execute articles of

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dissolution by its authorized officer. The statement proclaims:

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      (a) The name of the corporation.

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      (b) That all debts, obligations, and liabilities of the corporation have been paid and

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discharged or that adequate provision has been made for the payment., discharged or have been

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subject to a completed bankruptcy proceeding under Title 11 of the U.S. Code.

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      (c) That all the remaining property and assets of the corporation have been distributed

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among its shareholders in accordance with their respective rights and interests.

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      (d) That there are not suits pending against the corporation in any court, or that adequate

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provision has been made for the satisfaction of any judgment, order, or decree which may be

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entered against it in any pending suit.

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     SECTION 2. This act shall take effect upon passage.

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N   A C T

RELATING TO CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS - RHODE

ISLAND BUSINESS CORPORATION ACT

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     This act would make a technical change clarifying the provisions of the general laws

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governing the contents of articles of dissolution of a corporation.

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     This act would take effect upon passage.

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